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SHIPBUILDING &
MANUFACTURER
Super - Mega - Giga Yachts & Commercial Vessels up to 100 metres: Shipwrights and the vessels they build are protected within the standard program parameters up to $150 Million per occurrence for builders risk perils and $100 Million per occurrence for plant and equipment. Coverage is written on a replacement and agreed amount basis. This program is eligible for dividends based on favorable experience and a multi-year policy. Excess limits are available for insurable exposures greater than $150 Million. Vessel builders of high-speed water taxis, patrol boats, ferries, pilot boats, cutters, tugs and other commercial craft are covered. Builders risk insurance
provides coverage against loss of or damage to the vessel during the
course of construction from the laying of the keel and sea trials to
delivery of the finished vessel. Coverage can be extended to include the
entire building process as the vessel comes together including cover for
engines, equipment and other components which are awaiting installation.
We recognize that many vessels are built in stages on and off yard
premises and that contingency coverage may be necessary to ensure
protection of the owner from an outside loss due to a value added
vendors' failure to deliver components critical to the final completion.
Shipwrights and the vessels they build are protected within the standard program parameters up to $100 Million per occurrence for builders risk perils and $100 Million per occurrence in property values for plant and equipment. Course of construction insurance protects ship builders from loss of or damage to the hull and the machinery of a vessel during construction. This builders risk Insurance attaches from the time construction commences, including during subsequent launching, sea trials and until delivered to owners Repair Yards incl Custom
Construction: We provide property limits
for plant and equipment up to $100 Million per occurrence; and vessels
under construction up to $100 Million. We can provide
liability limits in excess of $500 Million where required. We provide property insurance with the most competitive rates anywhere. Boat manufacturers will range from single mold to assembly line with complex computer-controlled manufacturing processes. Materials insured can include fiberglass, composite plastics, wood and aluminum. Any size boat will be considered. Component Manufacturers: Designed to provide property insurance protection for fabricators of fiberglass, plastics, wood and aluminum products for use in the boat and marine industry. Target towards structural components such as swimming platforms, helms, seats, and other. Will consider ancillary items such as tarps, decking, outdoor marine furniture, holders, bimini tops, floating platforms, bumpers, ladders, whips, coolers, etc... Benefits of Insurexchange:Insurexchange point of differentiation is the expertise of our Insurexchange team and solution we provide which has earned us recognition as a market leader in construction risks. We provide extensive support and advice to our clients in the use of the most appropriate insurance clauses for their needs and, in particular, the tailoring of an insurance solution through identifying the risks. The depth of expertise and the extensive experience of Insurexchange ensure the best possible service.
Other Coverages We Provide For Marine Exposures: Ship Repairer’s Liability
insurance covering vessels and equipment in the care, custody or control
of the ship repairer, as well as damage to third party property and
personal injury, arising in the course of their operations. Covers legal
liability that arises in the course of a ship repair business. Offers a
flexible solution for the ship repair sector. It provides comprehensive
insurance that can be tailored for your own unique needs, whether you
are operating a large commercial ship repair facility or operate as a
sole trade providing maintenance or repair services to watercraft.
Marina Operator’s Legal Liability
(MOLL) insurance covers the exposures arising form services offered
by a marina operator. Cover can be tailored to suit individual operators
and can include liability for vessels in care, custody and control, ship
repair risks, fuel supply risks, pollution risks, security risks and
general third party liability risks including tenant’s liability and
vehicle storage liability.
Terminal Operators Legal
Liability insurance protects marine terminal operators and
stevedores from liability including damage to customer's ships, cargo,
containers and equipment as well as other third party risks including
personal injury. They also include exposure to financial loss incurred
by their customers arising from delay, misdirection of cargo or wrongful
delivery of cargo.
Marine cargo insurance provides protection for goods or livestock from physical loss or damage when they are imported to or exported. The insurance can be conveniently extended to cover the insured’s inland transits under the same policy. Import and export cover is based on Institute Cargo Clauses (Clauses) and can be tailored to suit an individual client’s particular requirements. The Clauses are published under the auspices of the International Underwriting Association of London and are internationally accepted. Cover under the Clauses can range from major perils to all risks, with separate clauses for air cargo and specialized commodities. Inland Marine Cargo insurance provides protection over the land. Other coverages provide for
clients include commercial auto, crime, motor truck cargo, umbrella,
workers compensation, USL&H, Jones Act, Maritime Employers Liability. |
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